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Personally speaking, I would keep looking. 4 owners doesn't necessarily mean something sinister, but at the same time, could indicate that the car has a storied history. Also, when you come to sell it, you will be the fifth owner, which might not make it easy to sell.....
Edit: just realized it is CPO, which will give you more peace of mind, but if you are looking for that perfect car, keep looking.
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